86 400 and Up's rates the latest casualties of savings account slump
Two of the highest ongoing savings account rates in Australia are being reduced again, with neobanks 86 400 and Up both dishing out the rate cut treatment this week.
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Westpac offers young Aussie savers a new market-leading interest rate
Westpac today announced a new interest rate for young savers that’s leading the competition by strides.
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How to build an emergency savings stash and leave your super intact
Important disclaimer: this article is factual information only and does not contain any advice or recommendations about what you should do with your own superannuation.
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Pink Recession 2020 Report: Aussie mums bear brunt of family finances
With the economy in flux, there’s even greater pressure on Aussies to stay on top of their finances. But the strain is perhaps greatest on working mums. Mozo’s latest research shows that during the COVID-19 lockdown, 28% of women acted as the primary career for their children, while also working, compared to just 7% of men. Mozo Director, Kirsty Lamont says that being a primary carer heightens your workplace vulnerability with many of our survey respondents reporting they have struggled to make strides in their career after taking leave. This is creating what might be best termed, a ‘pink recession’: a long-term financial crisis for many working women.
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MyState Bank: 44% of Aussies to rein in spending for the rest of 2020
With international travel plans axed, employees working less hours and some savings accounts looking thinner, Aussies are starting to tighten their wallets.
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July savings account snapshot: How to protect your cash as savings rates plummet
The EOFY has come to a rather somber close for Australia’s savers, with savings account rates dropping across the board in June. According to Mozo’s database, the average ongoing savings rate is now 0.71% p.a.
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Gateway Bank: Aussies’ new savings habits are benefiting the environment
In the months when Aussies retreated to their homes to stop the spread of Covid-19, something unexpected happened. A large number of people across the country picked up paint brushes, shovels and sewing kits, to do DIY jobs, grow food and mend clothes.
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NAB report shows Aussies want to save money and the environment
Travel, environmental impacts and budgeting are among the top concerns for Australians moving beyond lockdown conditions, according to a new NAB report.
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86 400, Up and BOQ provide sanctuary for savers as rates are further savaged
Australian savers just can’t catch a break. Over the past few years, rates have fallen again and again to the point where the average ongoing savings account interest rate in the Mozo database sits at just 0.74% today.
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How to save money during a recession
Since the Australian Bureau of Statistics released the GDP summary last Wednesday, the word ‘recession’ has really been bandied around. According to the summary, Australia’s GDP fell by 0.03% in the March quarter, meaning quite simply that the economy is on a downward spiral.
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